greenleaf
Senior Member
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Westbank has already had their share of financial difficulties and this project not moving doesn't help. In terms of scheduling, the windows and envelope have been on the critical path for several months now and nothing is being installed. Every day with no windows is one more day of extra unanticipated financing. Interest on construction, development fees, land costs is easily $1M per month. OUCHImportant to say the project is not at a stand still; there is definitely ongoing work as well documented by @AHK.
A fairer statement would be that work appears to be progressing more slowly than one would have anticipated, and that the issue w/the cladding supplier may well be a factor.
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While this is true, I am under the impression there is cladding on site. IF that is the case ( I expressed when I posted that I wasn't 100% confident on the source), I'm not sure why it isn't yet being applied.
That should buy them some of the glass blocks they need for King Toronto! Or, surely there are a number of semi-abandoned 80's buildings around they could pilfer them from.Westbank just sold a recently built rental tower in Vancouver, presumably to raise money:
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Westbank rental housing tower in Vancouver sold for $137 million | Urbanized
Westbank has sold its 2019-built, 21-storey The Pendrell rental housing tower at 1770 Pendrell Street in downtown Vancouver's West End.dailyhive.com
Or used to pay their existing debtThat should buy them some of the glass blocks they need for King Toronto! Or, surely there are a number of semi-abandoned 80's buildings around they could pilfer them from.